This week, despite a measure to reduce costs and paperwork, regulators added $229 million in total regulatory costs. There were no rulemakings that monetized benefits. The Bureau of Land Management’s (BLM) final fracking rule led the week.
Congress is broken. Gridlock is permanent. A House divided cannot rule. Senate rules are unworkable. There have been a zillion variants of the diagnosis with the same ultimate bottom line: nothing gets done in Washington. Except suddenly exactly the opposite happens.
At exactly the same time that a bipartisan bill is making a great stride forward for Medicare in the House of Representatives, the Senate is poised to vote on a great step backward. Specifically, Senator Jack Reed is offering an amendment to the Senate budget resolution with the purpose of “making prescription drugs more affordable for seniors and for tax-payers by requiring the Secretary of Health and Human Services to negotiate prescription drug costs under the Medicare program.”
On April 1st, a technical provision of Medicare payment policy, referred to as the Sustainable Growth Rate (SGR), will result in a payment reduction to physicians of more than 20 percent. Such a dramatic pay cut would have serious implications for doctors’ ability to accept Medicare patients and likely jeopardize senior’s access to care.
The president has made his official defense of the Patient Protection and Affordable Care Act (ACA, aka Obamacare) on the occasion of its 5th anniversary. "The bottom line is this for the American people: this law is saving money for families and for businesses,” he said. “This law is also saving lives, lives that touch all of us.”
Chairman Shelby, Ranking Member Brown, and members of the Committee, thank you for the opportunity to appear today and share my views on the Financial Stability Oversight Council (“FSOC” or “the Council”) nonbank designation process. FSOC’s mission is to identify, monitor, and address threats to America’s financial stability.
Yesterday Securities and Exchange Commission (SEC) Chairwoman Mary Jo White got an earful from the House Committee on Financial Services regarding SEC's intention to develop “fiduciary standards” for further regulatinginvestment advisers.
The White House launched a partisan critique of the House and Senate budget resolutions currently being debated in Congress.
On February 23, President Obama announced that his administration was moving forward with new regulations on financial advisers, commonly known as fiduciary standards. The U.S. Department of Labor (DOL) first proposed such a rule in 2010 to protect consumers from professional advisers who financially benefit from recommending certain investments. Fiduciary standards legally bind an adviser to act in a client’s best interest. This paper provides background on the regulation and its purpose, while also outlining the policy and market implications of DOL’s rulemaking.
Net Neutrality Irony: Remember net neutrality? Remember when the White House supported on its web site "a principle known as 'net neutrality' — and it says that an entrepreneur's fledgling company should have the same chance to succeed as established corporations…” Now, as it turns out, new research by AAF’s Will Rinehart shows that it is these very same small businesses that are under assault from net neutrality.